Query regarding no. of board meetings in FY 20-21

[Mohit Khanna]

Dear Members,

Please reply on below mentioned query:

As per section 173 of the Companies Act, 2013, every company shall hold a minimum number of four meetings of its Board of Directors every year in such a manner that not more than 120 days shall intervene between two consecutive meetings of the Board.

Further in terms of General Circular No.11/2020 dated 24/03/2020, MCA due to Covid-19 outbreak have relaxed the mandatory requirement of holding meetings of the Board of the companies within the intervals provided in section 173 of the Companies Act, 2013 (CA-13) (120 days) stands extended by a period of 60 days till next two quarters i.e., till 30th September. Accordingly, as a one- time relaxation the gap between two consecutive meetings of the Board may extend to 180 days till the next two quarters, instead of 120 days as required in the CA-13.
  

Now, please reply that a private limited company (not small company) can hold 3 board meetings instead of 4 in FY 20-21.

1 board meeting for quarter Apr-Jun & Jul-Sep within time gap of 180 days from last board meeting in quarter Jan-Mar and other 2 board meetings in quarter Oct-Dec & Jan-Mar

or

it has to convene 4 board meetings in the FY 20-21.

I request you to please reply at the earliest.

Thanks & Regards

CS Mohit Khanna

[Manisha Bajaj]

If the Company is not a Small Company, it will have to hold 4 Board Meetings. The relaxation was only for gap between meetings and not for number of meetings.

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Thanks & Regards,

Manisha Bajaj & Associates

Company Secretaries

[Ankita Karnani]

i am agree with manisha ji

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[Kaushal Shah]

Dear Learned Member,

As per my opinion reading on to the provision of section 173 of companies act ,2013 along with Companies Management and Administration Rules 2014, 
every company shall hold a minimum of 4 board meetings in every year where the gap between 2 meetings shall not exceed 120 days, the said circular specifically provides  a one- time relaxation in the gap between two consecutive meetings of the Board which may extend to 180 days till the next two quarters, instead of 120 days. The said circular does not however relax the condition of 4 board meetings in a year.

Thereby in my opinion 4 board meetings are to be held. 

    

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Kaushal Shah

+022 2240422442

CGCA & Associates LLP

Chartered Accountants

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